Dhaka stocks advanced for the third consecutive session on Sunday, as a section of investors went into buying mood in the session with hope for the market to rebound after the recent corrections, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, increased by 76.41 points, or 1.36 per cent, to close at 5,692.06 points on the day after gaining 30.99 points in the previous trading session on May 2.
Market operators said that Sunday鈥檚 session started with a jump.
Though prices indices saw a slight fall immediately, they spiked again soon and the bourse retained its positive momentum throughout the session, and ended in the green territory, they said.
With the investors increasing their activity on the market, the total turnover on Sunday witnessed a rise by more than Tk聽100 crore than the previous session.
The Dhaka bourse posted a total of Tk聽817.76 crore in its turnover amount on the day.
The total turnover of DSE on the previous session on May 2 was Tk聽710.62 crore.
Market operators said that the news of the reappointment of the current chairman of the Bangladesh Securities and Exchange Commission prompted investors to be hopeful and get active on the buying side.
In the past 11 weeks, the Dhaka bourse witnessed decrease in the indices in a total of nine weeks.
Market operators said that rising interest rates in banks might have prompted investors to shift their funds to the sector in the past weeks.
They also said that multiple other factors were working behind the bearish trend of stocks, such as lack of investor confidence amid economic woes in the country and global geopolitical tensions, liquidity crisis in banks and sudden change of policies.
Of the 401 issues traded on the day, 259 advanced, 98 declined and 44 remained unchanged.
On the sectoral front, pharmaceutical issues exerted the highest turnover, followed by food and textile stocks.
EBL Securities in its daily market commentary said, 鈥楾he indices managed to remain upbeat throughout the session as buyers have retained their dominance in the market, chasing quick-gain opportunities in sector-specific issues amidst the ongoing corporate declarations of the listed companies.鈥�
The DSE Shariah index increased by 18.55 points, or 1.50 per cent, to close at 1,250.98 points on Sunday.
The DS30 index gained 25.59 points, or 1.27 per cent, to finish at 2,033.45 points.
Orion Infusion topped the turnover chart on the day with its shares worth Tk聽41.05 crore changing hands.
Orion Pharma, Taufika Foods and Lovello Ice-cream, Asiatic Laboratories, Malek Spinning Mills, Alif Industries, IT Consultants, Salvo Chemical Industry, Oimex Electrode and Best Holdings were the other turnover leaders.
